November 2022 Treasury Report
Summary of the company’s financial activity
As usual, we’ll be providing a general overview of financial activity for November. You’ll find a breakdown of the company’s multi-sig balance, including off-chain cash balances, and closing thoughts.
This treasury report is for the period between October 15th, 2022 and November 15th 2022.
Overview
For the month of November, the company’s on-chain cash balance went from US$ 998,090.12 on October 15th to US$ 956,250.12 on November 15th — a 4.19% decrease over the period.
Our off-chain cash underwent a 10.77% decrease during the same period, going from US$ 77,488.63 on October 15th to US$ 69,144.50 by November 15th.
Overall, Neftify’s budgeted monthly burn rate for October was US$ 39,858. However, the actual burn for the October 15th to November 15th term was US$ 50,184.13.
Thoughts on Cash Burn
Our budgeted burn rate gives us T-minus 25.7months of runway, counting down from today. However, extrapolating November’s actual burn rate over our current cash balance gives us 20.4 months.
About Neftify
Neftify is building infrastructure for people and businesses to build custom financial interactions and payment experiences.
For more information , visit our website or check out the official Twitter. If you have any questions, send a DM, and a team member will answer shortly.
